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of <h1>Finance Act 1967 Amends Section 23, Clarifying Owner's Total Income Calculation for Tax by Excluding Property Income.</h1> Section 23 of the Income-tax Act has been amended by the Finance (No. 2) Act, 1967. The amendment modifies the proviso to sub-section (2) by replacing the phrase 'total income of the owner' with 'total income of the owner (the total income for this purpose being computed without including therein any income from such property and before making any deduction under Chapter VIA or section 280-O).' This change clarifies the method of computing the owner's total income for tax purposes, excluding property income and specific deductions.
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